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Uruguay XXI presented the Single Window for Investment
The tool will facilitate the completion of procedures and optimize setting up companies in the country.
Uruguay XXI, the investment, export, and country brand promotion agency, presented the Single Window for Investment (VUI). This platform will help improve the business climate and contribute substantially to the country’s attractiveness as an investment destination, facilitating and optimizing the setup process in Uruguay.
The activity was attended by the Undersecretary of the Ministry of Economy and Finance, Alejandro Irastorza, the Director of Citizen Services of AGESIC, Karime Ruibal, the Executive Director of Uruguay XXI, Sebastián Risso, and the Executive Coordinator of VUCE, Daniela Vignolo.
Implementing the VUI seeks to streamline and simplify procedures, fostering a favorable environment for investment and strengthening Uruguay’s position in the international business scenario. This achievement is the result of a joint effort by Uruguay XXI and the Foreign Trade Single Window (VUCE), with technical support from the Agency for Electronic Government and the Information and Knowledge Society (AGESIC), reflecting Uruguay’s commitment to innovation and efficiency in attracting investment.
The executive director of Uruguay XXI, Sebastián Risso, expressed that it is a single channel through which foreign or national investors can find all the information to start an investment. “From the opening of a company, hiring personnel or procedures with municipalities and firefighters, for example. The first stage will be an informative platform, and the second stage will allow the procedures to be carried out from the same platform. The processes continue to be carried out through the agencies, but they will be channeled through the VUI”, she said.
The coordinator of the Foreign Trade Single Window, Daniela Vignolo, reviewed other experiences of single windows worldwide and explained that although there are implementation efforts in Latin America, they have yet to be fully achieved. “At least they have not done so on the model we want for our country. This, in a way, gives us an advantage because due to Uruguay’s size, experience, and digital assets, we can once again position ourselves as a reference in the region,” he emphasized.
The Foreign Trade Single Window (VUCE), which celebrated its 10th anniversary in 2023 and saved more than US$ 50 million for the private sector and more than US$ 30 million for the public sector, is a successful precedent. “If we successfully replicate the VUCE model and its level of transversality and comprehensiveness, we will be a recognized single window, and we want to take advantage of it,” added Vignolo.
The Undersecretary of Economy welcomed the launch of this project, which will also be a tool for promoting the country. “One of the pillars of this administration has been the promotion and attraction of investments, as this results in more and better jobs for all Uruguayans,” he said.
“The VUI will facilitate the installation of companies, improve processes, standardize them, and achieve better competitiveness, productivity, and a better business climate,” Irastorza assured.
Ruibal added that it is “a qualitative leap” because it will provide all the necessary information for investors and seek to improve the processes so that investors minimize the number of steps they have to take with the State.
Created from the Accountability Law approved in 2022, the VUI is promoted by Uruguay XXI and VUCE, with the support of Agesic.